Hudson Technologies Signs Joint Development Agreement with Icorium; Expands Commitment to Commercialize and Scale Patented Extractive Distillation Technology

Technology Partnership Targets a Potential Step-Change in Refrigerant Recovery and Separation Efficiency

WOODCLIFF LAKE, N.J., Sept. 17, 2026 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) announced it has signed a joint development agreement with Icorium Company for the commercialization of Icorium’s patented extractive distillation technology.

The collaboration is expected to broaden and complement Hudson’s existing fractional distillation systems with the potential for rapid and more complete processing of more complex refrigerant compositions through Icorium’s single-stream extractive method. The technology under development pursues the ability to split complicated refrigerant mixtures into their core components - including azeotropes – with a yield and throughput previously unknown in the industry. The ability to separate and purify traditionally difficult refrigerant blends will simplify recovery of used refrigerants by allowing contractors to combine refrigerants in cylinders, reducing onsite recovery time and also enabling Hudson to extract the maximum refrigerant possible from every pound of refrigerant recovered, thereby producing a faster transition from stock to saleable product.

The joint development agreement provides Hudson with dedicated access to Icorium’s engineering resources, access to Icorium intellectual property related to refrigerant separation technologies, exclusivity and first-mover advantages during the initial commercialization period, as well as early access to additional separation technologies which may create further opportunities for expansion into new markets.

Ken Gaglione, President and Chief Executive Officer of Hudson Technologies commented, “This agreement marks a significant milestone for us as we execute our strategy to expand our offerings beyond traditional refrigerant sales and reclamation to include a premier technology-driven platform for recovery, purification, and separation services. With Icorium’s technology, we seek to separate complex refrigerant blends with greater speed and efficiency than traditional fractional distillation, substantially enhancing our capabilities and capacity. The ability to convert a broader range of refrigerants into saleable product would create a differentiated competitive advantage for Hudson as our industry moves from conventional to next-generation equipment and refrigerants.”

“We are excited to work with Hudson to scale our patented distillation technology to broaden and support the practice of refrigerant recovery and reclamation. Hudson and Icorium share a commitment to promoting and facilitating responsible refrigerant management. The combination of Hudson’s scale and market reach with our technology may open meaningful commercialization pathways in the continued development of a circular refrigerant supply chain,” commented Dr. Kalin Baca, co-Founder and CEO of Icorium.

About Hudson Technologies         

Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants for data centers and a wide range of other industrial applications. As a component of the Company’s products and services, the Company also generates carbon offset projects.

About Icorium

Icorium is an advanced separation technology company redefining refrigerant reclamation. Its proprietary separation technology, built on ionic liquid-based extractive distillation, hollow fiber membranes and pressure swing adsorption using porous materials, recovers high-purity refrigerants from complex mixtures that would otherwise be stockpiled, destroyed or released into the atmosphere. This scalable platform helps the industry meet evolving environmental regulations, reduce waste and advance toward a circular refrigerant economy. Founded in 2022 as a University of Kansas spinout, Icorium is headquartered at KU Innovation Park in Lawrence, Kan., and has earned national recognition for its innovation, including National Science Foundation funding and multiple startup awards. Learn more at icorium.us.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under its existing credit facility, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, and other risks detailed in the Company's 10-K for the year ended December 31, 2025 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.